US Bitcoin Corp. miner faces heavy fine

The company US Bitcoin Corp. was issued an order to stop cryptocurrency mining activities. In case of refusal, the amount of the fine will be $10 thousand per day. However, if the operation continues, the number of penalties will increase to $25 thousand daily. 

Such a restraining order is a continuation of a ruling issued earlier last December. Miner was accused of violating legislation that led to public nuisance. 

John P. Bartholomew, an attorney for the company, notes that the ruling will remain in effect until ways can be found to resolve it. US Bitcoin has already filed an appeal, which will be considered by the appropriate authority. 

It is also important to note that if the company continues to operate, it must pay a $540,000 fine for each day since the first ruling was issued on December 9. 

As a reminder, New York is known for its strict regulation of the cryptocurrency sphere up to the imposition of a moratorium on mining.